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invoice system
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....nvoice system<br> Query (Issue) Started By: - jagannath prasad Dated:- 21-5-2016 Last Reply Date:- 24-5-2016 Central Excise<br>Got 7 Replies<br>Central Excise<br>Can a central excise assessee maintain both excise invoice under rule 11 as well as commercial invoice. Reply By Rajagopalan Ranganathan: The Reply: Sir, The reply is yes. Reply By KASTURI SETHI: The Reply: Dear Sh.Prasad Ji, NO. Co....
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....mmercial invoice is not prescribed document under Rule 11 of CE Rules, 2002. Commercial invoice is a private document and you can maintain the same for your convenience privately.and NOT under Rule 11. Reply By Ganeshan Kalyani: The Reply: Excise invoice is raised for Excise purpose and Commercial invoice is for the purpose VAT / sales tax purpose. Both are essential. Both are allowed under thei....
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....r respective Act I.e Excise invoice under Excise and Commercial / Tax Invoice under Vat Act. Thanks. Reply By surya narayana: The Reply: Dear Friend, In terms of Rule 11 of CER,2002, Assessee at any time can maintain only one set of invoice/invoice book. However, an assessee can maintain Two sets of Invoice Books one for local sales and the other for Exports after intimating the same to the J....
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....urisdictional Excise Division. Further, the present Excise invoice being titled as Delivery Chalan cum Invoice, it can be used for charging VAT/CST also in addition to Excise duty. Due to different trade practices, some assessees ( in a very rare cse from 1994 afet introduction of Invoice concept) may use Delivery chalan for the purposes of payment of duty and in such situations only commercial ....
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....invoice being used for VAT/CST purposes. Further, in addition to Excise invoices, there are other transactions also which a company generally dealt with. For instance, Scrap and other sales which does not involve Excise. In such situations commercial invoice is still being used. further, In case of some dealers who places orders on other dealers/manufacturers advising hte suppliers to consign the....
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.... goods directly to the X party on his account. In such cases also commercial invoice is used. Though it is a private document , it have its own significance in the Financial transactions. Best Regards Suryanarayana Reply By KASTURI SETHI: The Reply: Sh.Surya Narayana Ji, Sir, Thanks a lot for comprehensive reply. You have cleared all the hidden issues in this aspect. Reply By Ganeshan Kalya....
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....ni: The Reply: With due respect what I have observed is the reply that are submitted by Sri Surya Sir is based on both the aspect I.e. law and practical. Thus I feel that his answers are supreme. The reply gives full satisfaction to the querist. Thanks. Sri Kasturi Sir I hope you will agree with my view. Thanks. Reply By KASTURI SETHI: The Reply: Sh.Ganeshan Kalyani Ji, Sir, I have already ....
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....agreed with Sh.Surya Narayana, Sir and also endorsed his reply along with thanks.I am all praise for his fantastic reply. K.L.SETHI<br> Discussion Forum - Knowledge Sharing ....